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re: Help with riddle - How Much Money Did The Store Lose?
Posted on 12/12/23 at 6:00 am to Seaux_cal_tiger
Posted on 12/12/23 at 6:00 am to Seaux_cal_tiger
The store would have eventually sold the $70 worth of goods either way, so the store ultimately lost $100 – the amount stolen from the cash register. The subsequent purchase and change received doesn’t negate the initial loss.
0
Posted on 12/12/23 at 6:58 am to Seaux_cal_tiger
$200
He stole the $100 then used the stolen money to buy $70 in merchandise and get $30 back.
He stole the $100 then used the stolen money to buy $70 in merchandise and get $30 back.
Posted on 12/12/23 at 7:07 am to Seaux_cal_tiger
$100
$100, once that is gone out the door that $100 is a loss.
Once the thief walks back in with $100 cash in hand that is considered cash just like you or I walking in with cash. $70 of purchased goods and $30 cash back. That is considered a transaction even though the money is stolen. The store does not know the person stole that $100 from them. They gave out $100 worth of change and transactions. They received $100 legal tender.
$100, once that is gone out the door that $100 is a loss.
Once the thief walks back in with $100 cash in hand that is considered cash just like you or I walking in with cash. $70 of purchased goods and $30 cash back. That is considered a transaction even though the money is stolen. The store does not know the person stole that $100 from them. They gave out $100 worth of change and transactions. They received $100 legal tender.
Posted on 12/12/23 at 7:31 am to deeprig9
quote:
So the reason health insurance is so expensive is because providers have to gouge the paying customers to offset the loss they incur from their indigent customers.
Not the sole reason but certainly a sizeable portion of the reason health care is so expensive is the number of people who either do not pay or do not pay the entire amount of the costs of the care they receive. Medicare and Medicaid are prime examples. Providers are generally expected, from a public perception POV, to provide services to those on both insurances. Those plans do not pay the entire cost though....the rest has to come from folks who do pay their bill in its entirety AND some portion of those who do not. The paying customer also has to pay for collections efforts. There is no free lunch...someone has to pay and the only entity in a position to pay is paying customers.
Posted on 12/12/23 at 7:52 am to Seaux_cal_tiger
The answer is $0 because they have insurance.
Posted on 12/12/23 at 8:02 am to HDAU
quote:
$100. Robber stole $100. Patronizing the store after the fact doesn’t mitigate the robbery.
This is the answer
Posted on 12/12/23 at 8:17 am to subMOA
quote:
All depends on how much the store paid for the item(s) stolen.
The items weren't stolen. Just how stupid are some of yall to be asking this same question 7 pages deep in this thread after it's been explained dozens of times?
Posted on 12/12/23 at 10:25 am to brmach
quote:
$100 - net profit on the items sold.
Its this. This shouldn't be confusing at all.
Posted on 12/12/23 at 10:30 am to LSU6262
quote:
$100. Robber stole $100. Patronizing the store after the fact doesn’t mitigate the robbery.
This is the answer
This only makes sense if you don't understand how stores operate as a business. You buying $70 of goods at a grocery store is no different than you "giving them" $10 or whatever the markup is.
The thief stole $100. That is a sunk cost. Then he purchased $70 worth of goods in a separate event. That netted the store an amount, let's assume $10 if they paid $60 for the goods he purchased. The store would lose a net $90 in this example.
This post was edited on 12/12/23 at 10:31 am
Posted on 12/12/23 at 10:39 am to BigBinBR
quote:
Let’s say the guy had two $100 bills on him (one stolen from the store and one his own).
If he buys the goods with the $100 that he already had no one would be saying the business was out extra money.
So it doesn’t suddenly make the store out extra money simply because he used a (stolen) $100
Correct. Also people keep bringing up they would have sold the goods for $70 to someone else, why would you assume that someone else is not gonna buy $70 worth of dog food because the thief did? The original question mentions nothing about the thief buying the last anything the store had in stock. Most stores keep enough inventory in stock ahead of time to never run out. So the thief's purchase wouldn't prevent any other sales unless they stated that in the question.
Posted on 12/12/23 at 11:01 am to dallastigers
quote:
Were y’all asked to figure out a specific amount (like in your subject) or to answer the question/concept about how to calculate amount like whether to factor in COGS or not? I am not seeing how you could figure out a specific COGS based on info given.
Also was it specifically called a riddle or is that just what you are calling it here?
No other instructions or other info given. You got the same question and the same amount of info as we got.
Presented as solve the riddle. However, the Riddle Police probably have a case here.
This post was edited on 12/12/23 at 11:12 am
Posted on 12/12/23 at 11:14 am to Seaux_cal_tiger
The answer is $130.
He stole $100. Then he exchanged $70 in cash for $70 in goods. Then he got $30 in cash back.
-100-70+70-30 = -130
He stole $100. Then he exchanged $70 in cash for $70 in goods. Then he got $30 in cash back.
-100-70+70-30 = -130
Posted on 12/12/23 at 11:15 am to Death Before Disco
quote:
The answer is $130.
He stole $100. Then he exchanged $70 in cash for $70 in goods. Then he got $30 in cash back.
-100-70+70-30 = -130
Posted on 12/12/23 at 11:21 am to Death Before Disco
quote:
The answer is $130.
He stole $100. Then he exchanged $70 in cash for $70 in goods. Then he got $30 in cash back.
-100-70+70-30 = -130
Sir. I will explain this like you are 5.
You have $15 to start a lemonade stand. You spend $5 on ingredients to make 50 cups and are selling lemonade for $1 a cup. Someone steals $10 from you and then buys 7 cups of lemonade for $7. You started the day with $15. You now have $7 cash and $4.30 worth of lemonade. How much did you lose?
Posted on 12/12/23 at 11:37 am to Death Before Disco
quote:
The answer is $130.
He stole $100. Then he exchanged $70 in cash for $70 in goods. Then he got $30 in cash back.
-100-70+70-30 = -130
You have made us all stupider for reading this post.
Posted on 12/12/23 at 11:43 am to Corinthians420
These answers are great for a laugh
Posted on 12/12/23 at 11:51 am to Seaux_cal_tiger
-100
- 70
- 30
Store lost $200
ETA: ==========================================================
Just flip it around.
First, he goes in the store buys $70 item,
gives them $100 and they give $30 in change.
Transaction over.
Then, he takes $100 out of the register.
Store loss = $100
===========================================================
- 70
- 30
Store lost $200
ETA: ==========================================================
Just flip it around.
First, he goes in the store buys $70 item,
gives them $100 and they give $30 in change.
Transaction over.
Then, he takes $100 out of the register.
Store loss = $100
===========================================================
This post was edited on 12/12/23 at 12:07 pm
Posted on 12/12/23 at 12:36 pm to Supermoto Tiger
quote:
-100
- 70
- 30
Store lost $200
ETA: ==========================================================
Just flip it around.
First, he goes in the store buys $70 item,
gives them $100 and they give $30 in change.
Transaction over.
Then, he takes $100 out of the register.
Store loss = $100
===========================================================
Truly astonishing.
Posted on 12/12/23 at 12:49 pm to Corinthians420
I see why people think $200.
When he steals $100 he gives back $70 for $70 of goods. Gets the $30 cash so all they really lost was $100
When he steals $100 he gives back $70 for $70 of goods. Gets the $30 cash so all they really lost was $100
Posted on 12/12/23 at 1:16 pm to Seaux_cal_tiger
quote:
A man steals a $100 bill from a store’s cash register. Then he buys $70 worth of goods at the store using the $100 he stole and he gets $30 in change back. How much money did the store lose?
He took $100
He replaced $70 of the money into the cash register for goods
He retained $30
So there is $30 less in the cash register and $70 worth of goods walking out the door.
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